Biden assured Americans of the stability of the financial system after the bankruptcy of SVB
[ad_1]
US President Joe Biden issued an emergency address on the closure of two major banks. He promised that the country’s financial system would remain stable.
According to him, the management of bankrupt banks will be fired and held accountable, and the measures of supervision and regulation of the banking sector will be tightened.
“They [руководители банков] deliberately took a risk, and when it did not materialize, they lost their money. This is how capitalism works,” said the President of the United States (quoted from Reuters).
Mr. Biden, addressing the residents of the United States, assured that all their deposits remain available if necessary. “Your deposits will be there when you need them,” the American leader said.
Earlier in the United States, by decision of the authorities, two large financial organizations were closed – Signature Bank And Silicon Valley Bank (SVB). The financial authorities of the United States assured that taxpayers will not suffer losses from the collapse of credit institutions, and also promised that depositors of both banks will have access to their accounts from March 13.
Read more about the collapse of Silicon Valley Bank – in the material “Kommersant” “Emergency high-tech bankruptcy”.
[ad_2]
Source link
